North’s economy to grow despite row over austerity

The North’s economy will grow this year and over the next few years at a respectable rate, despite the row over austerity between Stormont and Westminster, according to a new forecast.

The EY Ernst & Young all-Ireland economic outlook forecasts the northern economy expanded 1.7% last year and will grow by 2% this year, and increase by an average annual rate of 2% through 2020. Like in the Republic, the North’s economy is being helped by exports into Britain where recovery is picking up steam.

EY, however, lists a number of downside risks that could threaten the region’s economic prospects.